Superannuation Law and Regulation (LAWS90239)
Graduate courseworkPoints: 12.5Online
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About this subject
Contact information
August
Lecturer
Emily Millane (Coordinator)
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Overview
| Availability(Quotas apply) | August - Online |
|---|---|
| Fees | Look up fees |
Superannuation is the centrepiece of Australia’s retirement system and Australia’s superannuation regime is one of the largest in the world, with millions of member accounts in nearly 600,000 superannuation funds, and assets under management exceeding $3 trillion. This new subject, taught by an expert in superannuation policy and regulation, provides a detailed understanding of Australian law, policy and regulation of superannuation. It explains the current form and policy challenges of superannuation in its historical context.
Students will learn about the regulatory framework that governs superannuation, including licensing, prudential standards, conduct and disclosure, regulated by the two financial services regulators, the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority. The subject presents the legal that governs superannuation and its relationship with other legal regimes including taxation law settings for superannuation, employment law and social welfare. The subject will feature presentations by, and discussions with, senior experts from government, the funds industry and the legal profession.
Principal topics will include:
- History and development of Australia’s superannuation system and analysis in international context.
- Structure and design of superannuation including defined benefit and defined contribution; types of fund including industry, retail, government funds and self-managed superannuation funds
- The compulsory Superannuation Guarantee (coverage, exceptions and limits) and voluntary superannuation savings for individuals and businesses
- Regulatory obligations: Licensing, conduct, governance, fees, disclosure and prudential obligations for investment
- Role of the regulators, including the Australian Prudential Regulation Authority (APRA),Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO)
- Introduction to tax policy and law for superannuation contributions, earnings and benefits
- Interactions of superannuation with the Age Pension and with employment (including employer obligations and prohibitions)
- Analysis of recent and upcoming superannuation reforms including account consolidation; optional insurance; early release of superannuation; home super saver; Your Future, Your Super; and the Retirement Income Covenant
- The future and key policy questions for superannuation including adequacy of retirement incomes; gender inequality; home ownership ; transparency and investment ‘activism’.
Intended learning outcomes
A student who has successfully completed this subject will:
- Understand the history, development and key policy issues of Australia's superannuation system
- Have an introductory understanding of the main tax policy and law for superannuation contributions, earnings and benefits
- Understand and be able to communicate critical analysis of the key policy issues for superannuation and its interactions with housing, Age Pension policy and employment and labour relations, including key policy questions for the future
- Be able to advise orally and in writing on types of superannuation saving, fund and consumer approaches with a focus on the regulation of large funds under APRA
Generic skills
- Be able to carry out research on policy, legislative, regulatory advice and case sources research, analysis and writing skills on superannuation
- Communication skills in writing about history, legal development and key policy issues
- Communication skills in advising on the law and regulation for superannuation in hypothetical case studies
- The ability to explain complex issues and to discuss and debate legal and policy questions orally in group contexts
Last updated: 31 January 2024
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 31 January 2024
Assessment
| Description | Timing | Percentage |
|---|---|---|
Leading discussion on a topic and seminar participation | Throughout the teaching period | 10% |
Option 1, Part A: A research assignment based on selected course material
| 31 August 2022 | 40% |
Option 1, Part B: Take-home Examination
| 23 - 26 September 2022 | 50% |
Option 2: Research paper on a topic approved by the subject coordinator
| 26 October 2022 | 90% |
| Hurdle requirement: A minimum of 75% attendance. Note: the attendance hurdle does not apply when the subject is delivered online, however attendance at all live online sessions is expected. | Throughout the teaching period | N/A |
Additional details
Note: Students must choose assessment from the options listed above. If an option contains parts, all parts must be completed if that option is chosen.
Last updated: 31 January 2024
Quotas apply to this subject
Dates & times
- August - Online
Mode of delivery Online Contact hours Total time commitment 150 hours Pre teaching start date 6 July 2022 Pre teaching requirements Please refer to the Reading Guide on the LMS subject page for confirmation of which resources need to be read and what other preparation is required before the teaching period commences. Teaching period 3 August 2022 to 9 August 2022 Last self-enrol date 11 July 2022 Census date 4 August 2022 Last date to withdraw without fail 23 September 2022 Assessment period ends 26 October 2022 August contact information
Lecturer
Emily Millane (Coordinator)
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a 'first in' basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of waitlisted places in subjects will be given as follows:
- To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
- To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.
Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Melbourne Law School may reserve places in a subject for incoming international cohorts or where a subject is core to a specialisation with limited alternate options.
Last updated: 31 January 2024
Further information
- Texts
- Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-masters@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
Last updated: 31 January 2024